BidaskClub upgraded shares of EntreMed (NASDAQ:CASI) from a hold rating to a buy rating in a research note issued to investors on Wednesday, April 4th.
Several other equities analysts have also recently commented on CASI. HC Wainwright reaffirmed a buy rating and set a $5.00 price objective on shares of EntreMed in a research note on Tuesday, January 16th. ValuEngine cut shares of EntreMed from a hold rating to a sell rating in a research note on Tuesday, March 13th.
Shares of CASI traded up $0.25 during trading hours on Wednesday, hitting $6.65. The company’s stock had a trading volume of 384,236 shares, compared to its average volume of 506,657. The company has a market capitalization of $506.52, a price-to-earnings ratio of -35.50 and a beta of 0.90. The company has a quick ratio of 8.66, a current ratio of 8.66 and a debt-to-equity ratio of 0.04. EntreMed has a 52-week low of $0.91 and a 52-week high of $7.59.
EntreMed (NASDAQ:CASI) last posted its earnings results on Thursday, March 29th. The biotechnology company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.06). sell-side analysts expect that EntreMed will post -0.22 earnings per share for the current fiscal year.
In related news, major shareholder China Growth Fund Idg-Accel II bought 3,086,418 shares of the company’s stock in a transaction on Wednesday, March 21st. The stock was acquired at an average cost of $3.19 per share, for a total transaction of $9,845,673.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wei-Wu He acquired 3,086,419 shares of the stock in a transaction dated Monday, March 19th. The stock was acquired at an average price of $3.24 per share, with a total value of $9,999,997.56. Following the completion of the acquisition, the director now owns 847,527 shares in the company, valued at approximately $2,745,987.48. The disclosure for this purchase can be found here. 24.52% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC purchased a new position in shares of EntreMed in the fourth quarter worth $137,000. Perceptive Advisors LLC purchased a new position in shares of EntreMed in the fourth quarter worth $272,000. Renaissance Technologies LLC increased its stake in shares of EntreMed by 33.4% in the fourth quarter. Renaissance Technologies LLC now owns 150,600 shares of the biotechnology company’s stock worth $489,000 after buying an additional 37,700 shares during the period. Geode Capital Management LLC increased its stake in shares of EntreMed by 488.7% in the fourth quarter. Geode Capital Management LLC now owns 225,578 shares of the biotechnology company’s stock worth $733,000 after buying an additional 187,263 shares during the period. Finally, BlackRock Inc. increased its stake in shares of EntreMed by 32.6% in the fourth quarter. BlackRock Inc. now owns 386,090 shares of the biotechnology company’s stock worth $1,254,000 after buying an additional 94,984 shares during the period. Hedge funds and other institutional investors own 4.49% of the company’s stock.
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CASI Pharmaceuticals, Inc, a late-stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of therapeutics addressing cancer and other unmet medical needs in China. Its lead drug candidate is ENMD-2076, an Aurora A/angiogenic kinase inhibitor, which is in multiple Phase II studies in advanced fibrolamellar carcinoma, triple-negative breast cancer, advanced ovarian clear cell carcinomas, and advanced/metastatic soft tissue sarcoma.
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